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be a 20% tax cut? >> i'm going to lower rates across the board for all americans by 20%. i want a 20% across the board reduction in taxes. the individual marginal tax rate 20% across the board. the top rate, for instance, would go from 35 to 28, middle rates would come down by 20% as well, all rates come down. >> president obama was just as surprised. >> well, for 18 months he's been running on this tax plan. and now, five weeks before the election, he's saying that his big, bold idea is never mind. >> but the etch a sketching did not stop there. governor romney who once believed financial regulation was hurting the economy -- >> dodd frank it's called, has not helped enterprise get going, it's slowed it down. >> now seems to be a supporter of wall street regulation. >> want to repeal dodd/frank? >> and replace it. we're not going to get rid of regulation. some parts of dodd/frank that make all of the sense in the world. >> and back in june, romney mocked the president's crazy ideas about needing more
be a 20% tax cut? >> i'm going to lower rates across the board for all americans by 20%. i want a 20% across the board reduction in taxes. the individual marginal tax rate 20% across the board. the top rate, for instance, would go from 35 to 28, middle rates would come down by 20% as well, all rates come down. >> president obama was just as surprised. >> well, for 18 months he's been running on this tax plan. and now, five weeks before the election, he's saying that his big,...
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tax havens. mitt romney avoided paying his fair share. what else is he hiding? >>> joining me now, david k johnston author of the new book, "the fine print" and karen finney. david k. johnstone, the times got tax experts to look at the tax returns and some documents they obtained from bain from this new report today. what did we learn? >> well, the cayman islands 4 hundred years ago was a hang out for pirates now it's a hang out for tax pirates. instead of a buried map of where the tresh is, now you get this opinion letters from lawyer, if you follow one every one of these steps, you can get your treasure untaxed to the cayman islands. one of the things the times points out because of the way these were set up and the fees they were charged against them, the less taxes paid by those who were investing, the greater the sum available and therefore the higher the fees that romney collected. >> karen finney, romney, you get the sense the romney campaign expected that the tax return story was a story
tax havens. mitt romney avoided paying his fair share. what else is he hiding? >>> joining me now, david k johnston author of the new book, "the fine print" and karen finney. david k. johnstone, the times got tax experts to look at the tax returns and some documents they obtained from bain from this new report today. what did we learn? >> well, the cayman islands 4 hundred years ago was a hang out for pirates now it's a hang out for tax pirates. instead of a buried map...
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and he wants to extend the bush tax cuts for wealthy americans. but it seems like having his real record pointed out to him is making the senator a little testy. >> excuse me, i'm not a student in your classroom. please let me respond, okay? >> maybe mr. brown could use that classroom. there is a difference between the letters "i" and "r." did senator brown think we would forget his extreme right wing record? nice try, but we got you. 's eb. want to give your family the very best in taste, freshness, and nutrition? it's eb. want to give them more vitamins, omega 3s, and less saturated fat? it's eb. eggland's best eggs. eb's. the only eggs that make better taste and better nutrition... easy. eggland's best eggs. better taste. better nutrition. better eggs. it's eb. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b
and he wants to extend the bush tax cuts for wealthy americans. but it seems like having his real record pointed out to him is making the senator a little testy. >> excuse me, i'm not a student in your classroom. please let me respond, okay? >> maybe mr. brown could use that classroom. there is a difference between the letters "i" and "r." did senator brown think we would forget his extreme right wing record? nice try, but we got you. 's eb. want to give your...
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/ryan tax plan will raise taxes on middle-class families with a child, one or more children by an additional $2,000 a year. how -- all kidding aside, without the boos. stop all that malarkey. this is deadly ernest, man. this is deadly ernest. how they can justify -- how they can justify raising taxes on the middle class that's been buried the last four years. how in lord's name can they justify it? >> the romney campaign picked up on that middle class being buried for the last four years during which president obama was in the white house while campaigning in iowa. paul ryan did not miss the opportunity to seize on biden's choice of words. >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. of course the middle class has been buried. they're being buried by regulations. they're being buried by taxes. they're being buried by borrowing. they're being buried by the obama administration's economic failures. >> the romney campaign also chimed in on twitter writing agree with joe biden. the middle class has been buried the last
/ryan tax plan will raise taxes on middle-class families with a child, one or more children by an additional $2,000 a year. how -- all kidding aside, without the boos. stop all that malarkey. this is deadly ernest, man. this is deadly ernest. how they can justify -- how they can justify raising taxes on the middle class that's been buried the last four years. how in lord's name can they justify it? >> the romney campaign picked up on that middle class being buried for the last four years...
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asked if woe release more taxes. there needs to be some kind of tax question tonight because the reality is that a lot of folks don't earn very much money in places here like denver are paying a higher percentage of their income than romney. romney believes there should be lower rates for investments but hasn't explained why it is fair that he pays a lower rate. >> quick on your list of questions, many have been asked to the candidates at some point or certainly, prepared to answer. will you be stunned if the questions on the stimulus on the case of the president or taxes, to romney, go unanswered without the candidate being specific? >> well, i won't be surprised at all but the nice thing about a debate is that i think the moderator, jim lehrer, is going to take a step back and allow the clash between the candidates. i think if romney gives a nonanswer to that question we just talked about obama will say, no, answer that question and that will generate an exciting back and forth and make for a great debate. sfeefrnl
asked if woe release more taxes. there needs to be some kind of tax question tonight because the reality is that a lot of folks don't earn very much money in places here like denver are paying a higher percentage of their income than romney. romney believes there should be lower rates for investments but hasn't explained why it is fair that he pays a lower rate. >> quick on your list of questions, many have been asked to the candidates at some point or certainly, prepared to answer. will...
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cuts, going beyond the extension of the bush tax cuts. he talks about raising defense spending. he rejects a 10 to one ratio of spending cuts to tax increases. simpson-bowles. you mentioned them. they say the math doesn't add up in the romney plan and he won't tell us how he thinks it does. >> well, listen. the country is hungry for bipartisan compromise, david. i agree with you,t( especially after the last four year was intense partisanship from this white house. and mitt romney is the only candidate in this race who has a record of showing he knows as an executive how to forge bipartisan compromise. as the governor of massachusetts, over 85% of his legislature democrats, he made things happen. and he will make things happen as president of the united states. and will forge the right type of compromise to get this done. and that's the way it's going to work. >> do you think that this governor romney should be in a situation where he's actually prepared to deal with revenue, to raise revenue, go against his party if it's part of a package
cuts, going beyond the extension of the bush tax cuts. he talks about raising defense spending. he rejects a 10 to one ratio of spending cuts to tax increases. simpson-bowles. you mentioned them. they say the math doesn't add up in the romney plan and he won't tell us how he thinks it does. >> well, listen. the country is hungry for bipartisan compromise, david. i agree with you,t( especially after the last four year was intense partisanship from this white house. and mitt romney is the...
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raising taxes on the middle class and raising taxes on seniors. the same economists who mitt romney referred to to back up his plan said you couldn't pay for it without eliminating the mortgage introduction which many middle class families rely on if they have more specifics, we are interested to hear those tomorrow night. so far we haven't heard how you pay for it without raising taxes on the middle class. >> as we look at a new quinnipiac poll, it's finding more of the majority of americans think the president will win the debates. the president has done his best to temper debate expectations looming out there, saying he's just an okay debater. is your campaign worried these high expectations could backfire on the president? >> the president will come into the debates prepared. mitt romney has been preparing for the debates earlier than any candidate we could find on record since july. it took the week of the convention to prepare for the debates. according to "the new york times," he spent eight days preparing for this debate. we expect him to
raising taxes on the middle class and raising taxes on seniors. the same economists who mitt romney referred to to back up his plan said you couldn't pay for it without eliminating the mortgage introduction which many middle class families rely on if they have more specifics, we are interested to hear those tomorrow night. so far we haven't heard how you pay for it without raising taxes on the middle class. >> as we look at a new quinnipiac poll, it's finding more of the majority of...
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taxes for a typical middle-income family making $40,000 to $64,000 a year could go up by $2,000. >>> and california governor jerry brown signed a bill that would allow 500,000 young illegal immigrants who qualify for the new federal work permit program to obtain driver's licenses. >>> near hong kong, at least 36 people were killed when a boat filled with holiday partygoers collided with a ferry and sank. it is the deadliest accident there in years. >>> a house in oregon that was sold this summer turns out to have been a meth lab. and there are toxic chemicals there. contamination, 80 times the state limit. the family that bought the foreclosed home as is from the government got sick and now has few options. >>> and the white house is lit up in pink to mark october as breast cancer awareness month. new york's empire state building is also bathed in pink, and even buckingham palace in london got in on the action. they are going pink to support the breast cancer awareness campaign. >>> well, now here's your first look at this morning's dish of "scrambled politics." a company paid by the
taxes for a typical middle-income family making $40,000 to $64,000 a year could go up by $2,000. >>> and california governor jerry brown signed a bill that would allow 500,000 young illegal immigrants who qualify for the new federal work permit program to obtain driver's licenses. >>> near hong kong, at least 36 people were killed when a boat filled with holiday partygoers collided with a ferry and sank. it is the deadliest accident there in years. >>> a house in...
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if they can't pay for it to provide the tax cut for the rich then they're going to raise taxes on the middle class. that's what the economic studies have shown. look, i don't know anybody who thinks we' we're another tax cu a millionaire away from a stronger middle class. >> watch ed schultz every night at 8:00 p.m. eastern on "the ed show" on msnbc. >>> a judge in pennsylvania has blocked the state's stricter voter inch d. law. ruling means that voters in pennsylvania will not have to show a state-approved i.d. to cast ballots on election day. the judge said he was concerned that the law could prevent some people from voting. the stricter voter i.d. laws in four states remain but tougher laws in at least six other states were either shelved or watered down, including those in a few swing states. >>> american airlines now says it knows why passenger seats broke loose causing a pair of emergency landings. they originally called for 8 of its aircraft to be inspected, later ordered 47 aircraft to be checked. they blame the problem on clamps that were not properly installed. they continue
if they can't pay for it to provide the tax cut for the rich then they're going to raise taxes on the middle class. that's what the economic studies have shown. look, i don't know anybody who thinks we' we're another tax cu a millionaire away from a stronger middle class. >> watch ed schultz every night at 8:00 p.m. eastern on "the ed show" on msnbc. >>> a judge in pennsylvania has blocked the state's stricter voter inch d. law. ruling means that voters in pennsylvania...
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first is the tax reform. fundamental tax reform across the board which is going to help americans put more money in their pockets for those middle class americans that do a lot of the spending in this country and i think they need it the most. >> will governor romney explain? >> on issues like health care, those are also issues that the governor will address comprehensively and talk about the specifics of how it would help households keep more money and going to help grow the entire economy. >> kevin, excuse me, sorry, didn't mean to interrupt you. >> no worries, sorry. >> will governor romney tomorrow night in denver explain exactly which deductions he would get rid of to make up for the tax cuts that he's offered? >> well, i think it's very hard in a debate to go through a negotiation, particularly when you look at broadening the tax base you're going to have to do it with congress. it's hard to get into those details. he will talk about the fundamental principles that he has with regards to tax form, helpi
first is the tax reform. fundamental tax reform across the board which is going to help americans put more money in their pockets for those middle class americans that do a lot of the spending in this country and i think they need it the most. >> will governor romney explain? >> on issues like health care, those are also issues that the governor will address comprehensively and talk about the specifics of how it would help households keep more money and going to help grow the entire...
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tax cuts for the marginal rates. a big one down from 35% for the top rate down to 28%. but he won't tell us how he's going to do it. he won't tell us the big deductions he's going to kill. and to me that's the heart of what he's actually promising. howard, how can he tell us what he's going to do without killing himself politically by nailing these deductions? >> i don't think he can play stall ball for the next five weeks on that, chris. i think every debate moderator starting with jim lehrer tomorrow night is going to demand specifics in the way chris wallace tried to do last week on fox. and i also think that the numbers are emblematic of values in this case. people want to know about mitt romney. they're undecided. i disagree with chuck a little bit. i think people are prepared to blame the president enough to dismiss him if, as chuck says, they are secure about romney. it's that last piece that romney hasn't done, and forcing him to discuss the details of his tax plan is not a way necessarily to win those undeci
tax cuts for the marginal rates. a big one down from 35% for the top rate down to 28%. but he won't tell us how he's going to do it. he won't tell us the big deductions he's going to kill. and to me that's the heart of what he's actually promising. howard, how can he tell us what he's going to do without killing himself politically by nailing these deductions? >> i don't think he can play stall ball for the next five weeks on that, chris. i think every debate moderator starting with jim...
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what about this tax plan. is president obama obligated to supporters to point out to them that this is flawed? what do you think? >> i think the moderators are going e to ask governor romney about a lot of the things that you just talked about. i hope the moderator gives governor romney a chance to do what paul ryan said he didn't have time to do and that is explain how they pay for a $5 trillion tax cut. as you pointed out, ed, it is a time problem that is vexing in this budget. it's a math problem. they can't pay for it. if they can't pay for it, then they are going to raise taxes on the middle class. that's what the economic studies have shown. and look, i don't know anybody who thinks we're another tax cut for a millionaire away from a stronger middle class. that's just not how we have built our economy before and it's not how we're going to continue to make our country strong now. >> will president obama confront romney on these issues or rely on the debate moderator to do it? how aggressive will the pres
what about this tax plan. is president obama obligated to supporters to point out to them that this is flawed? what do you think? >> i think the moderators are going e to ask governor romney about a lot of the things that you just talked about. i hope the moderator gives governor romney a chance to do what paul ryan said he didn't have time to do and that is explain how they pay for a $5 trillion tax cut. as you pointed out, ed, it is a time problem that is vexing in this budget. it's a...
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the tax plan still doesn't add up. the question for him is whether or not he's able to obscure o that on the stage tonight. >> ezra. thank you. so chris hayes, do we end up in a mega-audience version of paul ryan saying this weekend, i don't really have the time to give you the numbers. i'd bore you if i gave you the math. >> that, to me, is the most fascinating element in this debate. is that he has said time and time again, mitt romney even said at one point, look, i learned from governor christie, if you give people details, they just use it to attack you. he has said explicitly as a matter of strategy, we won't give you more details. so how long can he avoid details on stage with the president for 90 minutes. and the other problem, it's not just bain, it's not just fact that this is the wealthiest man to run for president, well, in nominal dollars, ever, but in real dollars, in a long time. but he is proposing the same thing that republicans always propose when they get into office. the one reliable policy you can
the tax plan still doesn't add up. the question for him is whether or not he's able to obscure o that on the stage tonight. >> ezra. thank you. so chris hayes, do we end up in a mega-audience version of paul ryan saying this weekend, i don't really have the time to give you the numbers. i'd bore you if i gave you the math. >> that, to me, is the most fascinating element in this debate. is that he has said time and time again, mitt romney even said at one point, look, i learned from...
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in an interview, romney was pressed for specifics on his tax plan. after ryan said on fox news on sunday the math would take too long to explain. >> you could say everybody is going to get up to a $70,000 deduction and can use your charitable deduction or home mortgage deduction or others. and you can fill that bucket if you will, the $17,000 bucket that way and higher income people might have a lower number. or you could do it by the same method that boll simpson did it. but that's the sort of thing you do with congress. >> so that's the most detail we have heard romney talk about this idea of different buckets and a cap on deductions. but still it's been at nearly every stop in the the last two weeks. romney has had to explain the 47% remark. don't be surprised if we hear a version of this answer when it comes up wednesday night. >> if you could go back to that fundraiser, would you have said it differently? >> it's not productive for someone to get into the detail of how a campaign is going to cop l together the people i need to win an election. i
in an interview, romney was pressed for specifics on his tax plan. after ryan said on fox news on sunday the math would take too long to explain. >> you could say everybody is going to get up to a $70,000 deduction and can use your charitable deduction or home mortgage deduction or others. and you can fill that bucket if you will, the $17,000 bucket that way and higher income people might have a lower number. or you could do it by the same method that boll simpson did it. but that's the...
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his running mate paul ryan refused to say how much their tax cut would cost alleging it would take too long to get into all the math. congressman ryan defended that dodge yesterday. >> i didn't want to get into all the math of this because everybody would start changing the channel. >> and an hour ago, after offering no new specifics on his ticket's tax plan ryan said this -- >> problem is it took me about five minutes to go into all of this with you and you're in a 30-second tv show you can't do it as much. >> on behalf of the television industry, we salute you paul ryan for being so consider ate of the viewers at home. americans still have close to no idea as to what the romney/ryan plan is actually all about. will an 11-minute period of open discussion tomorrow night prove sufficient for governor romney to, quote, get into all the math? perhaps. but with so many of his own policies and open conflict with one another it seems like the most pressing equation for team romney to solve is whether mitt plus mitt equals one or two. the paradox of the mittens, katrina. >> i mean the romney/
his running mate paul ryan refused to say how much their tax cut would cost alleging it would take too long to get into all the math. congressman ryan defended that dodge yesterday. >> i didn't want to get into all the math of this because everybody would start changing the channel. >> and an hour ago, after offering no new specifics on his ticket's tax plan ryan said this -- >> problem is it took me about five minutes to go into all of this with you and you're in a 30-second...
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i'm a former federal tax lawyer and a business owner. i get how jobs are created but i also understand how they're destroyed. >> joining me now is her competitor, jim graves, the democratic nominee for minnesota's sixth congressional district. jim, thank you for joining me. >> thank you for having me on. appreciate it. >> you had no political experience, jim, until you began your campaign. i'm sure your constituents want to hear what makes you qualified to serve in congress? >> i'm a business guy. i've created a lot of jobs. i understand the economy, budgets, how to get things done. obviously michele bachmann doesn't. so i'm prepared to go to congress and get things done, bring people together, make this economy work again and she doesn't. >> you just heard the congresswoman, though. how does your plan for the economy differentiate from hers? >> first and foremost we're not going to lower the minimum wage. that doesn't help anybody. what we need is good wage jobs. she's pledged to go to norquist and coke brothers. i'm pledging myself to
i'm a former federal tax lawyer and a business owner. i get how jobs are created but i also understand how they're destroyed. >> joining me now is her competitor, jim graves, the democratic nominee for minnesota's sixth congressional district. jim, thank you for joining me. >> thank you for having me on. appreciate it. >> you had no political experience, jim, until you began your campaign. i'm sure your constituents want to hear what makes you qualified to serve in congress?...
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do we want to live in a country where a minority of people are the tax providers? do you want everybody to be a stake holder? do you want everybody to have skin in the game? these are arguments worthy of a presidential campaign. what paul ryan is talking about, i think it will be blended together in the context of romney's comments, but i don't think it's necessarily fair to do it. >> i think you're right about the political blending of it and about the necessity of that discussion and that could be a sober and serious discussion. the part that makes it political is when you get this moral for anybody on the recving side of a net transfer from the government. that's you're not taking responsibility for your life. you don't believe in the american dream stuff. >> it's the 47% comments. you're really talking about the entire enlisted core of the united states military, for example. i believe that veterans, for example, have earned the benefits that they are being given. so he described a big portion of the company that are republican voters. that's why it was so poli
do we want to live in a country where a minority of people are the tax providers? do you want everybody to be a stake holder? do you want everybody to have skin in the game? these are arguments worthy of a presidential campaign. what paul ryan is talking about, i think it will be blended together in the context of romney's comments, but i don't think it's necessarily fair to do it. >> i think you're right about the political blending of it and about the necessity of that discussion and...
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these types of restrictions are like poll taxes and literacy tests. we need to fight back and keep on fighting back. we're very glad for the victory in pennsylvania but we hope that the justices around the country will change their mind. >> ben, you're in a hero's role in all this. i appreciate anything you do in for our country. i want to ask you something. this seems to be hand in glove with the same kind of dog whistle stuff they're doing to white working class voters. get them upset about welfare and food stamps so you get the blacks so they can't vote and the whites angry at the blacks so they'll vote republican. it does seem like a two-pronged effort. >> no, that's right. and, you know, race has really been injected into this race in ways that are really insidious, and when you hear somebody talk about folks are too lazy and knowing who he's talking about are single moms who are raising kids, who are working, who may number a county where there's no d.o.t. or in a county where the d.o.t. is open one day or may are a boss that if they have to go
these types of restrictions are like poll taxes and literacy tests. we need to fight back and keep on fighting back. we're very glad for the victory in pennsylvania but we hope that the justices around the country will change their mind. >> ben, you're in a hero's role in all this. i appreciate anything you do in for our country. i want to ask you something. this seems to be hand in glove with the same kind of dog whistle stuff they're doing to white working class voters. get them upset...
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on average, gas prices tend to be a little higher because of taxes and environmental regulations there and also the mixing, the switchover. >> that's happening with american airlines? pilots issues and seats coming undone? >> i'm not on american this afternoon, but they had to ground almost 100 flights because the seats were coming loose. they're saying, the spokesperson was saying because of the gunk in between the seats. >> like spilled soda? >> exactly. if you ever lose your pen on flight, don't put your hand down there pu's don't know what you're going to find. that is a reason why the seats are coming loose. insiders are saying it's a mechanism failure and they were trying to remold those seats so they'd be a little better. >> the time cog not be worse. the pilots having issues. >> could not be worse. hopefully get the seats taken care of. i can't imagine being on a seat, flipping backwards. might be sort of fun. >> not the kind of drama you want on a flight. >> probably right. >> see you before your flight again. thank you very much. >>> in today's one-minute playback, jimmy fall
on average, gas prices tend to be a little higher because of taxes and environmental regulations there and also the mixing, the switchover. >> that's happening with american airlines? pilots issues and seats coming undone? >> i'm not on american this afternoon, but they had to ground almost 100 flights because the seats were coming loose. they're saying, the spokesperson was saying because of the gunk in between the seats. >> like spilled soda? >> exactly. if you ever...
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president tried to get him on that on the $5 trillion tax cut thing. i'm not sure he effectively pinned him down on that though the obama campaign was spinning that they did. >> i think they made a mistake on that issue, the obama people did, by going with the $5 trillion. because that, you know, policy wonks can debate whether it amounts to $5 trillion or not. what they can't debate, it's a 20% tax reduction for the wealthiest americans. that is a plain irrefutable fact and if they used that, it would, first of all, explain more what this is, which is a tax cut for the wealthy which was one of several points the president wasn't able to actually convey in a clear way. and would also be, you know, be on dispute factually. >> and when a -- sorry, go ahead. >> no. >> when paul ryan spoke at the republican convention, the first reaction was, wow, young fresh guy, so handsome. you know, there's like -- an immediate positive response. later that night, that same evening in the same news cycle, the sort of second breath response was, wow, there are a lot of
president tried to get him on that on the $5 trillion tax cut thing. i'm not sure he effectively pinned him down on that though the obama campaign was spinning that they did. >> i think they made a mistake on that issue, the obama people did, by going with the $5 trillion. because that, you know, policy wonks can debate whether it amounts to $5 trillion or not. what they can't debate, it's a 20% tax reduction for the wealthiest americans. that is a plain irrefutable fact and if they used...
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as it relates to his tax plan, he has said very clearly that, a, he wants to cut certain tax loopholes, b, he wants to keep the bush era tax cut rates in place, and c, we need to make sure we can work with congress in a bipartisan fashion to get it done. i think that's very fair, i think it's a question that will be asked of him tomorrow by jim lehrer. >> it's also been deemed as mathematically impossible. thank you. as the candidates gear up, we are headed to denver. we will broadcast live from the university of denver, so be sure to tune in tomorrow, 4:00 p.m. eastern. >>> next, the 47 and bain. sure to take center stage tomorrow. stay with us. >> you haven't given me the math. >> but, well, i don't have the time -- it would take me too lock to go through all the math. >> great answer. why? it's a great answer. why is it a great answer? well, it would take me too long to explain, but trust me, it was a great answer. [ man ] ring ring... progresso this reduced sodium soup says it may help lower cholesterol, how does it work? you just have to eat it as part of your heart healthy diet.
as it relates to his tax plan, he has said very clearly that, a, he wants to cut certain tax loopholes, b, he wants to keep the bush era tax cut rates in place, and c, we need to make sure we can work with congress in a bipartisan fashion to get it done. i think that's very fair, i think it's a question that will be asked of him tomorrow by jim lehrer. >> it's also been deemed as mathematically impossible. thank you. as the candidates gear up, we are headed to denver. we will broadcast...
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he wants to cut personal income taxes by 20%, corporate taxes from 35% to 25%, extend the bush tax cuts and the alternative minimum tax. that's $5 trillion, whether he likes it or not, or whether he wants to admit it or not. and he says he's going to do that all without adding to the deficits. how? he didn't say last night. and that's why most analysts have said he's either going to explode the deficits or stick it to the middle class. on medicare, he said we're not going to hurt one senior on medicare by repealing obamacare. he's going to raise -- he's going to cut benefits for seniors across america. he wasn't honest about that. you guys have the tape of him saying we don't need anymore teachers. last night he couldn't say enough about teachers. i don't want to cut teachers. i want more teachers. that's not what he said. so, i mean, again and again and again, he told a story to the american people that is completely in contrast with what he said before and unfounded in fact. and that's going to catch up with him. i think that i give him credit for a strong performance. i give him an "
he wants to cut personal income taxes by 20%, corporate taxes from 35% to 25%, extend the bush tax cuts and the alternative minimum tax. that's $5 trillion, whether he likes it or not, or whether he wants to admit it or not. and he says he's going to do that all without adding to the deficits. how? he didn't say last night. and that's why most analysts have said he's either going to explode the deficits or stick it to the middle class. on medicare, he said we're not going to hurt one senior on...
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when you compare the top marginal income tax rate, the tax rate that top earners get taxed over the highest threshold with employment, growth happens when taxes are higher, not lower. let me show you a chart that the president could have used this week to simplify the whole debate. this is what the election boils down to right here. larry bartels' chart makes it clear, under democratic presidents, everyone does better, even the very top. talk about trickle-down big government but more importantly, americans are ready to move on, even before the good news job numbers were released, an nbc/"wall street journal" survey showed that 44% of americans believe the economy will improve in the next year and four in ten say the country is headed in the right direction, the highest percentage on this question since june of 2009. here with me is cnbc contributor, dan dicker, a 25-year trading veteran of the new york mercantile exchange, civil right attorney mya wiley. attorney raul ruiz and a contributor to "the nation" magazine. thank you for being here. let me ask a question, does 7.8% wipe away wedne
when you compare the top marginal income tax rate, the tax rate that top earners get taxed over the highest threshold with employment, growth happens when taxes are higher, not lower. let me show you a chart that the president could have used this week to simplify the whole debate. this is what the election boils down to right here. larry bartels' chart makes it clear, under democratic presidents, everyone does better, even the very top. talk about trickle-down big government but more...
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out a deal on expiring tax cuts. the average hike would be $3,500 for middle income earners, a $2,000 increase. senate leaders say they are making progress on a plan. jack, you're a little boring. boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] with less chronic osteoarthritis pain. imagine living your life with less chronic low back pain. imagine you, with less pain. cymbalta can help. cymbalta is fda-approved to manage chronic musculoskeletal pain. one non-narcotic pill a day, every day, can help reduce this pain. tell your doctor right away if your mood worsens, you have unusual changes in mood or beh
out a deal on expiring tax cuts. the average hike would be $3,500 for middle income earners, a $2,000 increase. senate leaders say they are making progress on a plan. jack, you're a little boring. boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass....
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did the vice president give critics an opening when he talked about a tax hike. let's listen. >> you know the phrase they always use? obama and biden want to raise taxes by a trillion dollars. guess what? yes, we do, in one regard. we want to let that $1 trillion tax cut expire so the middle class doesn't have to bear the burden of all the money going to the super-wealthy. >> does the vice president's style create a risk for the democratic ticket? >> he does. you know, it's something that they've been watching with joe biden for years, but joe biden has been preparing for an entire week. by thursday when the debate happens, he will have spent almost a week at his home in wilmington preparing. and when he is prepared, he is much better in that he doesn't make those same gaffes. when he nose what it is that he needs to say and he's not going off the cuff in this style, he does better. >> on thursday, joe biden went aggressively after governor romney on taxes. let's take a look at that. >> you just never know what game or what position governor romney's going to com
did the vice president give critics an opening when he talked about a tax hike. let's listen. >> you know the phrase they always use? obama and biden want to raise taxes by a trillion dollars. guess what? yes, we do, in one regard. we want to let that $1 trillion tax cut expire so the middle class doesn't have to bear the burden of all the money going to the super-wealthy. >> does the vice president's style create a risk for the democratic ticket? >> he does. you know, it's...
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federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax -- it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles simpson, by the way. get the rates down, lower deductions and exemptions, to create more jobs, because there's nothing better for getting us to a balanced budget than having more people working, earning more money, paying more taxes. that's by far the most effective and efficient way to get this budget balanced. >> jim, you may want to move on to another topic, but i would just say this to the american people. if you believe that we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion, just to give you a sense, over ten years, that's mor
federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax -- it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles...
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everybody would like a tax cut. who wouldn't want a tax cut, especially 20% across the board? if you're making 35%, the top rate, you go to 28%. all chris wallace was trying to get from ryan on sunday was just tell me what big deductions you're going to get rid of so we can finance that. it's the question. of course everybody wants a tax cut, but if it's not going to cause bigger deficits, tell us how you're going to do it, and they won't do it. they won't say we're going to get rid of charitable deductions, won't get rid of homeowner, state and local. that's where all the money is. it's not little doodads here. joan, you take this one. he won't tell us. same question comes up wednesday night, can romney dodgeball it? can he say i'm not telling you how i'm going to do the major thing i promised to do, get the economy going through a tax cut, but i'm not going to tell you how i'm going to do it. can he get away with it with even the -- >> i hope not. i think this is a moment for jim lehrer to be very tough, respectful tough, and for president obama to come back at him and to sa
everybody would like a tax cut. who wouldn't want a tax cut, especially 20% across the board? if you're making 35%, the top rate, you go to 28%. all chris wallace was trying to get from ryan on sunday was just tell me what big deductions you're going to get rid of so we can finance that. it's the question. of course everybody wants a tax cut, but if it's not going to cause bigger deficits, tell us how you're going to do it, and they won't do it. they won't say we're going to get rid of...
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that's not a tax raise. that's called fairness where i come from. >> and last night on "politics nation," jared bernstein explained to al sharpton that the math in mitt romney's tax plan doesn't add up. >> if you're going to cut taxes 20% across the board, which is mitt romney's plan, you're going to blow a $5 trillion hole over ten years in the government's revenue. now, what governor romney says is i can make that up by closing tax expenditures and loopholes, but there's two problems with that. one, the arithmetic. if you look at people over 200,000, just look at the wealthiest couple of percent, the revenue cuts about $250 billion, and the deductions, the broadening of the base, gets you back about 160. so you're short about $90 billion. >> and don't miss reverend al sharpton and "politics nation" weekdays at 6:00 eastern here on msnbc, the place for politics. >>> so how will today's monthly jobs report impact the candidates? economists are predicting the unemployment rate could tick up from 8.1 to 8.2%,
that's not a tax raise. that's called fairness where i come from. >> and last night on "politics nation," jared bernstein explained to al sharpton that the math in mitt romney's tax plan doesn't add up. >> if you're going to cut taxes 20% across the board, which is mitt romney's plan, you're going to blow a $5 trillion hole over ten years in the government's revenue. now, what governor romney says is i can make that up by closing tax expenditures and loopholes, but there's...
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he says he's going to lower tax rates but eliminate corporate tax loopholes and personal tax loopholes. i think he has a secret plan to eliminate that tax critical to the middle class. >> do you think that's what viewers walked away thinking? >> i think they walked away thinking mitt romney would be a great used car salesman, but the policies he's articulating will get us right back into the mess that president obama has been working so hard to dig us out of. >> i suspect many walked away last night feeling a bit confused, maybe a bit bored by the technical language and lack of passion. and they are possibly asking the question around the world that many are, which is why can't these guys get together to hammer out a fiscal solution? because actually they were talking about the details, they didn't seem to be so incredibly so far apart on many of the issues. >> were they? >> i was just thinking just now it is too bad steve israel couldn't go out with an obama mask and substitute for the president. there are a lot of points you are making last night that the president missed. >> what wa
he says he's going to lower tax rates but eliminate corporate tax loopholes and personal tax loopholes. i think he has a secret plan to eliminate that tax critical to the middle class. >> do you think that's what viewers walked away thinking? >> i think they walked away thinking mitt romney would be a great used car salesman, but the policies he's articulating will get us right back into the mess that president obama has been working so hard to dig us out of. >> i suspect many...
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level with us about his tax plan which gives the wealthy huge new tax breaks? if we can't trust him here, how could we ever trust him here? >> the romney campaign has taken issue of course with what the obama campaign uses which is a tax policy center analysis. in that ad that draws on the -- to argue that mitt romney's tax plan depends on a $5 trillion tax cut that's not paid for. the conclusion they drew is the only way you offset those tax cuts over ten years, after handcuffing yourself on the pledges that romney has made to reduce tax rates across the board by 20% eliminating the alternative minimum tax and erasing the federal estate tax is to eliminate deductions that will inevitably touch the middle class. the romney folks say the obama campaign and tax policy center created a strawman. the problem is the romney campaign hasn't created their own and responded with any detail on how they would do it. it becomes impossible at least politically once you account for the pledge handcuffs that romney has made. while the president didn't fully acknowledge he cam
level with us about his tax plan which gives the wealthy huge new tax breaks? if we can't trust him here, how could we ever trust him here? >> the romney campaign has taken issue of course with what the obama campaign uses which is a tax policy center analysis. in that ad that draws on the -- to argue that mitt romney's tax plan depends on a $5 trillion tax cut that's not paid for. the conclusion they drew is the only way you offset those tax cuts over ten years, after handcuffing...
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the number on his tax cut is $5 trillion. because he's talking about a 20% cut in marginal rates, eliminating the alternative minimum tax, estate tax and other deductions, $480 billion a year, $5 trillion over ten years, that's the number. then he says, you know, every day for the last 18 months, i've been talking about repealing every aspect of obama care, but actually i didn't mean it. well it's too late for that. if you repeal obama care across the board, that means that kids can no longer stay on their parents' coverage through age 26, it means that we can go back to a system of denying coverage for preexisting conditions, it means that seniors again are back on to co-pays larger co-pays as it relates to prescription drugs, and on dodd/frank, he's been saying he wants to repeal dodd/frank, andrea, every day for the last 18 months, repeal every aspect of it. dodd/frank of course is the bill that reregulated the financial system after the credit market collapsed, the catastrophic collapse of 2008. so does anybody really wan
the number on his tax cut is $5 trillion. because he's talking about a 20% cut in marginal rates, eliminating the alternative minimum tax, estate tax and other deductions, $480 billion a year, $5 trillion over ten years, that's the number. then he says, you know, every day for the last 18 months, i've been talking about repealing every aspect of obama care, but actually i didn't mean it. well it's too late for that. if you repeal obama care across the board, that means that kids can no longer...
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the estate tax. we'll give the top 1/10 of taxpayers an average break of $250,000. >> look, look, andrea, mitt romney pointed out that one of the things that he would do is to put a cap on the deductions. the tax policy center admitted that what they analyzed was assumptions they added to mitt romney's plan that are not deduction. >> which deductions. >> let me finish. i let you finish. now let me fin. >> yes, sir. >> the tax policy center admitted that they made assumptions that were not part of mitt romney's tax plan. there are six or seven follow-up studies that say romney's tax plan can do what the governor has said he would. he's going to eliminate or cap deductions on upper income brackets there is more enough in the basket of choices there to take care of providing the to 20% tax reduction to the middle class. >> no, there are not. >> with all due respect to what obama people are putting out, they're wrong on it. >> i'm not talking about what the obama people are talking. first of all, those a
the estate tax. we'll give the top 1/10 of taxpayers an average break of $250,000. >> look, look, andrea, mitt romney pointed out that one of the things that he would do is to put a cap on the deductions. the tax policy center admitted that what they analyzed was assumptions they added to mitt romney's plan that are not deduction. >> which deductions. >> let me finish. i let you finish. now let me fin. >> yes, sir. >> the tax policy center admitted that they made...
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i was going to ask you the taxes issue. having the democrat lead on taxes can't be good for a republican. >> we had the second cycle in a row where obama's run and tried to neutralize a tax advantage. again, part of it and thas is what is really new to our poling. more afffluent people think obama is the biggest threat to them. lower income people think mitt romney is. we are seeing cultural differences by income that are interesting. >> the romney quality advantages what i want to do with you federal budget deficit up nine. dealing with china as an economic rival up eight. on the economy up three. changing business as usual in washington is dead even. if you are the obama campaign what concerns you the most here? the deficit number? >> probably the deficit. i think if you are the president's campaign you're less worried about romney's numbers right now. on the one hand the 40% right direction is the highest it has been in 3 1/2 years and any incumbent heading in that is momentum. 53% say the country is headed in the wrong
i was going to ask you the taxes issue. having the democrat lead on taxes can't be good for a republican. >> we had the second cycle in a row where obama's run and tried to neutralize a tax advantage. again, part of it and thas is what is really new to our poling. more afffluent people think obama is the biggest threat to them. lower income people think mitt romney is. we are seeing cultural differences by income that are interesting. >> the romney quality advantages what i want to...
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i don't have a tax cut that's $4 trillion. i'm not going to cut taxes on the rich. i don't have a medicare voucher plan. i love teachers. i think we need more. don't believe me. speaker gingrich was pretty eloquent in running during the primaries and saying mitt romney will say absolutely anything to get elected. >> you know, the thing is again, robert gibbs is saying this five days late e, four days later. why didn't the president say that the night of the debate? and secondly, i don't know about you guys, but i'm thinking if it was my gut reaction and again, i was harshly critical of mitt romney and i'm a guy that worries first about debt and i always have. i heard mitt romney say i won't pass a tax cut that raises the deficit. sounds pretty much like the romney doctrine to me. that's what i took away from that debate. >> coming up, the mayor of chicago, rahm emanuel joins us. how chicago is going up against san antonio to see which city can get healthier, first. and up next, a new pbs documentary goes behind the scenes of the presidential campaigns for the person
i don't have a tax cut that's $4 trillion. i'm not going to cut taxes on the rich. i don't have a medicare voucher plan. i love teachers. i think we need more. don't believe me. speaker gingrich was pretty eloquent in running during the primaries and saying mitt romney will say absolutely anything to get elected. >> you know, the thing is again, robert gibbs is saying this five days late e, four days later. why didn't the president say that the night of the debate? and secondly, i don't...
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minimum tax. when you do that over ten years you put $5 trillion hole in your revenue. so that's where obama gets $5 trillion tax cut. but governor romney says he will make up that money through eliminating loopholes, tax deductions that sort of thing but he hasn't specifically said which one his would target. but that's how he can say, i don't have a $5 trillion tax cut. obama can come back and say you haven't given specifics how can we believe it really adds up. in fact every study nonpartisan that has looked at this has said that you know, unless you really tweaked the numbers, there's not justify money out there to fill that $5 trillion hole. >> so, glenn, the president said she's the guy plan to cut $4 trillion in the deficit. here's how he describes that plan. >> the way we do it is $2.50 for every cut, we ask for a dollar of additional revenue. governor romney earlier mentioned the bowles-simpson commission. well that's how the commission bipartisan commission, that talked about how we shou
minimum tax. when you do that over ten years you put $5 trillion hole in your revenue. so that's where obama gets $5 trillion tax cut. but governor romney says he will make up that money through eliminating loopholes, tax deductions that sort of thing but he hasn't specifically said which one his would target. but that's how he can say, i don't have a $5 trillion tax cut. obama can come back and say you haven't given specifics how can we believe it really adds up. in fact every study...
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a candidate says i'm going to lower the tax rates but i'm going to broaden the tax base. what you get is lower rates, you get a lot of the former, you get very little of the latter. because like bob says, once you start going into how you're going to broaden the base, then it's don't look at me, look at the other guy. so the danger of this tax reform trap that governor romney is trying to sell right now is that you're going to end up with massively lower tax rates and you're not going to broaden the base much at all such that you'll have an explosive budget deficit, it's very much what we saw in the bush supply side trickle down years. >> bob, debatess left. the vice presidential debate, the town hall presidential debate and then the debate on foreign policy. >> i think we throw out the myth that somehow or other only the first debates matter. i think the other debates will have big audiences. i'm through with the expectations game. i think vice president biden will do very well next week. i think the president will bring his best game to these next two debates. this guy
a candidate says i'm going to lower the tax rates but i'm going to broaden the tax base. what you get is lower rates, you get a lot of the former, you get very little of the latter. because like bob says, once you start going into how you're going to broaden the base, then it's don't look at me, look at the other guy. so the danger of this tax reform trap that governor romney is trying to sell right now is that you're going to end up with massively lower tax rates and you're not going to...
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overall taxes that they pay and the overall tax plan would be tax neutral. i mean, it would be revenue neutral. the other piece is you mentioned this other story -- >> the story is specifics, hasn't it? >> i'll keep going back to this to seep the record straight. you all talking about this story that mitt romney had been saying and reported in other places that this is a new softer side of mitt romney. he's been telling that story for months. and so, i mean, this is all just sort of a generated media narrative that he is coming up with all sorts of new policies and new touching stories. this is, you know, what's great about last week is it's our opportunity to present an unfiltered mitt romney versus an unfiltered barack obama and the choice was houistorically. >> let's ask you then about specifically what the panelist talked about, the thing that a lot of analysts are watching is are the polls going to move in the swing states? it is early to tell. the jobs numbers may factor in to this. can mitt romney move the polls in a place like ohio? where before the
overall taxes that they pay and the overall tax plan would be tax neutral. i mean, it would be revenue neutral. the other piece is you mentioned this other story -- >> the story is specifics, hasn't it? >> i'll keep going back to this to seep the record straight. you all talking about this story that mitt romney had been saying and reported in other places that this is a new softer side of mitt romney. he's been telling that story for months. and so, i mean, this is all just sort of...